This is completely normal.
First, the long version:
http://www.geofex.com/Article_Folders/E ... cftech.htmNow the short version:
All envelope effects (which also includes most compressors) work by converting your guitar signal to a polarized DC voltage through a process called "rectification" and then using that voltage to affect something else in the circuit. (In an envelope filter, it creates a tone sweep, producing a wah sound.) However, your guitar signal isn't a steady source of voltage. Even our power supply isn't a truly steady source of voltage -- which is why we need filtering caps. A wave goes up AND down across a zero line, but we really want to focus on the TOP of the wave.
A capacitor can be used to store the correct polarity of voltage in between those wave swings. The capacitor discharges at a slow-ish rate, or at any rate much slower than a single swing of a wave. That's called the "decay." It's what keeps the circuit from flubbing out or going "wah wah urrrrg huh? WAHAGAIN! wahhg" and instead going "WOww
wwwwwww" when you hold a note.
The tradeoff is that if you pick really fast the capacitor won't drain fast enough to reset the circuit to its idle state.
Hammer's article gives some clues as to what to look for in the circuit if you're interested in a variable decay.
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Vids. PCBs: Bearhug & Cardinal:
1776 Effects. Hamlet & Blue Warbler:
JMK PCBs. Flabulanche: Madbean